Dalian futures are priced in yuan not USD. So if the yuan drops say a percent against the dollar, a single percent rise in the iron ore futures prices is really no rise at all in USD (iron ore supplier) terms. Seems important not to misinterpret what the price signal of the futures actually means.
Seems to me that the futures price of iron ore rising is only an indicator of increasing demand if it rises more in percentage terms than the yuan falls against USD in the same timeframe.
Dalian futures are priced in yuan not USD. So if the yuan drops...
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